Scanz Review

 

There are many real-time newsfeed and stock scanner platforms in the market designed to cater to day traders. Scanz, formerly known as EquityFeed, is one of the most popular names among traders for its extensive capabilities and effectiveness. Over the years, the scanner has helped several traders rise to fame with powerful insights and analysis.

In this review, let us try to understand whether Scanz is still as effective as it was before and if it is worth giving a try.

 

What is Scanz?

Scanz has been around since 2002 and was rebranded from EquityFeed in 2019 after which it underwent remarkable growth and transformation. Designed for day traders, Scanz is a real-time newsfeed and stock screening platform that scans the U.S. stock market to help traders respond to trading events instantly.

The platform claims to be the world’s most powerful scanner with real-time alerts and news updates. It is a unique service as it provides exclusive access to level II data with detailed insights into price action. It also offers multiple filters to allow building customized scans. The platform is designed to be intuitive to suit beginners as well.

 

What Does Scanz Offer?

Here are some of the most useful features Scanz has on offer to help day traders get an edge.

Easy Scanner

The Easy Scanner is a powerful scanner tool you get with this platform. It is aimed at optimizing speed and ensuring you get live market data conveniently. The scanner allows filtering out stocks according to your trading preferences. Custom filters enable you to use the scanner the way you desire. The scanner is quite useful for beginners as it comes loaded with the basic functionalities of the platform.

News Scanner

This Scanz scanner gives you unlimited access to news influencing stock movements. With more than 100 sources, the scanner brings to you the latest news from the market and even gives you access to the latest SEC filings updates. It also offers a lot of customizations like filtering news by keywords to focus on what matters the most to you.

Pro Scanner

This scanner allows streaming real-time feeds between 4 am and 8 pm EST. Like other scanners on the platform, the Pro Scanner is customizable, letting you tap into any number of scans. You also get access to more than 50 variables that you can use to refine the scanner results. It offers several popular filters and technical filters including MACD, Bollinger Bands, and more. The most impressive part is that you can download and transfer the results with a CSV file.

 

 

 

 

Level II Data

An amazing feature for any day trader, level II data lets you visualize the entire order book in real-time. Scanz offers a color-coding feature to make it easy to stay updated on the market. You can even use tabbed windows for a better experience.

Breakout Signals

A highly useful feature for day traders, breakout signals make it possible to land actionable signals about different types of stocks. As these signals are instantaneous, you can grab the stocks as soon as they break out of the price range.

The breakout signals currently supported by Scanz include New High Alerts, New Low Alerts, Price Breakouts, and Volume Breakouts.

One Window Montage

One of the most impressive features of the platform, One Window Montage lets you get a complete real-time picture to help make the right decisions. It provides a pre-market outline about lows, highs, and volume and useful charting tools to make analysis. It is a highly useful tool for busy traders who want a market overview without spending too much time.

 

How To Use Scanz?

Scanz is an all-in-one scanning platform that offers a complete package to suit different trading styles and preferences. It integrates customized alerts, customized scanning, news streaming, powerful charting, personalized watchlists, level II data, broker integration, and much more into a beautiful interface that gives you convenient access to whatever you need.

Scanz is an excellent tool for those who trade regularly and need a robust scanning platform that covers various aspects of trading for identifying opportunities and maximizing profits. The most impressive thing about this platform is that it offers different modules individually, so you can choose the features that suit your needs and avoid paying for extra functionality.

Pricing

The stock scanner has three different pricing tiers with the most basic costing $79 per month. The News tier provides news and SEC filing updates along with streaming charts, broker integration, and other features. For $99 per month, you can subscribe to the Scanner plan that covers all the features of the first tier along with Level II data, Montage, and OTC level II. The Premium tier priced at $149 provides all the data and news features of the platform.

Updated: Scanz has revised pricing to $169/month which includes level 1 and level 2 quotes

 

Education

As the platform offers a wide range of features, beginners might sometimes get overwhelmed. This is where video tutorials and learning materials come to the rescue. The Scanz Platform Walkthrough is a nice way to get started as it provides an overview of all the tools you can benefit from. You also find guides on using different scanners and features it offers.

 

Scanz – Advantages & Disadvantages

 

Let us now list the pros and cons of Scanz to give you an idea of what you can expect from the platform.

 

Pros

• Built-in stock analysis
• Real-time news engine
• Easy to use interface
• Excellent customer support
• Different pricing tiers to choose from
• Outstanding coverage of news and SEC filings

Cons

• No community
• A little expensive
• Broker integration is still in its beta phase

 

Conclusion

Overall, Scanz is a powerful stock screener and scanner that integrates all the functionality you need to stay on top of the stock market and day trading. It may need some basic knowledge to get started, but it is provided for free once you subscribe.

The system is designed to be intuitive and easy to use, so there is no learning curve. It is one of the recommended choices for traders who want some support to minimize losses and increase profitability.

 

 

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